Ethereum ETH Poised for $4,400 Breakout After Falling Wedge

Ethereum’s native token, ETH, is on the verge of a significant ETH breakout. Since early October, ETH has formed a textbook falling wedge on its four-hour chart. This pattern suggests waning bearish momentum. A decisive move above the $3,560 resistance—which aligns with the 0.236 Fibonacci retracement—would confirm the ETH breakout. Technical analysis sets a price target at $4,415, roughly 25% above current levels, by mid-December. Supporting the bullish outlook, Ethereum’s MACD indicator is “seconds away” from a bullish crossover. Historically, similar MACD flips during consolidation phases have preceded both short-term and long-term rallies for ETH. Traders should watch for the faster MACD line to cross above the slower line, signaling growing buying pressure. However, failure to break above the wedge’s upper trendline could trigger a pullback toward $3,000–3,200 or, in a worst-case scenario, a drop to the wedge apex near $2,710. Additionally, Ethereum’s MVRV Extreme Deviation bands suggest downside risk to the –0.5σ band at around $2,870 if ETH closes below its mean valuation. Risk management remains crucial, but a confirmed ETH breakout would mark a strong bullish signal for traders.